McKesson Corp. (MCK) Has Risen To A New High On Contract News

4/12/2012 9:34 AM ET

McKesson Corp. (MCK) announced after the close Wednesday that it was selected by the Department of Veterans Affairs to continue as the VA's prime pharmaceutical supplier. The two-year agreement calls for McKesson to supply all of the VA's medical centers and outpatient clinics, as well as the VA's Consolidated Mail Outpatient Pharmacies.

McKesson Corp. has gapped open sharply higher Thursday morning and is now up 3.75 at $91.65. The stock has broken out of a 2-week range and has set a new high for the year.